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Understanding the Table:
The comparison table above helps you see the total cost of your HSBC currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
Here we review HSBC's foreign exchange services and how their exchange rates compare to FX specialist providers, compare rates and check how you can save money when you send and spend abroad.
HSBC, also known as the Hongkong and Shanghai Banking Corporation, is a multinational investment bank and financial services company based in London, UK. HSBC operates in over 60 countries and territories, including the UK, Hong Kong, China, Canada, the US, Australia, and throughout Europe, the Middle East, and Asia. The bank is well-known for its retail banking services, investment banking, and wealth management services, and has a large and diverse customer base.
In terms of foreign exchange rates, HSBC offers competitive rates for international money transfers and foreign currency exchange services. Customers can transfer money overseas in a range of currencies, and the bank offers real-time exchange rate quotes and low transfer fees. HSBC also offers foreign currency accounts and multi-currency accounts, allowing customers to hold and manage multiple currencies in a single account.
HSBC's foreign exchange rates are competitive with other major banks and financial institutions, and the bank has a strong reputation for providing reliable and secure services. However, it is always recommended that customers compare exchange rates and fees across different FX providers to ensure they are getting the best value for their money.
When you get a quote for your Global Money Transfer from HSBC on their website or in-app, you can also see the HSBC exchange rate, but it can be difficult to then calculate how much you are being charged.
HSBC does not publish their exchange rates publicly which is frustrating. However, our research shows that on average, HSBC profit margin for foreign exchange rates is somewhere between 2.8 - 7%, depending on the amount you're sending, where you're sending it to and which currency will be received.
While all banks add this mark-up, the extra amount being charged is much higher than it would be with a global money transfer specialist.
The HSBC HKD to QAR exchange rate is 0.4362. This is -5.9% compared to the latest HKD-QAR mid-market rate 0.4635.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare Hong Kong dollar (HKD) to Qatari rial (QAR) rates from different sources before making a conversion.
The above HSBC - Hong Kong dollar to Rial comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by HSBC and other foreign exchange providers against the latest HKD-QAR mid-rate and the possible savings of using various providers.
Looking at the full HKD to QAR - Send Money comparison table the provider with the best HKD to QAR exchange rate is XE at 0.4607, -0.6% from the latest mid-market rate 0.4635.
The next best is WorldRemit at 0.4598, -0.8% from the mid-rate.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like HSBC often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
Recent forecasts for the USD to QAR exchange rate indicate a significant weakening of the U.S.
The EUR to QAR exchange rate currently stands at 4.2047, reflecting a rise of 2.9% above its three-month average of 4.0855, with a relatively stable trading range...
View a full list of exchange rates by selecting your Base (from) currency: